On November 30, the National Futures Association (NFA) submitted proposed amendments to NFA Registration Rule 802 to the Commodity Futures Trading Commission. The amendment is intended to ensure the language of Rule 802 is consistent with that in recently amended registration forms. Specifically, the amendments reflect changes in the language of Forms 7-R; 8-R; and 3-R.
The proposed amendments remove from the Rule the specific agreements and certifications contained in the forms. The new language instead provides that the filing of a registration form (e.g., the Form 7-R) will constitute the applicant’s applicable certifications, representations, acknowledgements, authorizations and agreements contained within the form. This change will allow NFA to make changes to the forms in the future without having to amend Rule 802.
NFA’s Board of Directors unanimously approved the proposed amendment on November 16. NFA is invoking the “ten-day” provision of Section 17(j) of the Commodity Exchange Act to allow the amendments to be effective 10 days after receipt of the proposal by the CFTC.
NFA’s rule submission rule is available here.